S.200A: Processing of statements of tax deducted at source – Before amendment by the Finance Act , 2015 – w. e.f. Ist June 2015 did not permit levy of fee under section 234E , for delay in filing quarterly statements , while processing the quarterly statements . [ S. 234E ]
S. 199 : Deduction at source – Credit for tax deducted –Income offered in the relevant year – Demerger – Eligible for TDS credit even if the TDS certificates are in the name of the demerged company/ Transferor company .[ S.144C ]
S. 199 : Deduction at source – Credit for tax deducted – Once tax is deducted at source – Though the deductor has not deposited the tax – The Tribunal directed the AO to allow the credit to deductee assessee. [ S.143(1), 205, Form No 26AS ]
S. 194I : Deduction at source – Rent – Shop in a mall on rent – Common area maintenance (CAM) – Charges are separate and distinguishable services – The applicable rate of TDS is 2 per cent under section 194C and not 10 percent under section 194I .[S.194C ]
S. 194I : Deduction at source – Rent -Alternative accommodation- Hardship allowance – Payments made to tenants of a Co -Operative housing society towards alternative accommodation charges /hardship allowance rent are not liable to deduct tax at source .[ S. 132A(2A ) ]
S. 167B : Charge of tax – Shares of members unknown – Discretionary trust – Anti avoidance rule- Maximum rate of surcharge applicable in the case of an individual – This rate applies to a private discretionary trust as well . [ S. 2(29C) , 143(1) ]
S. 161 : Liability of representative assessee – A determinate Trust with sole beneficiary is liable to be taxed at same rate as applicable to its beneficiary . [ S.115BAA , Form No -10IC ]
S. 144C : Reference to dispute resolution panel – Draft Assessment order – AO passed order unaware of the objection filed before DRP [ S. 144C(2), 144C(4), Art. 226 ]
S. 143(1) : Assessment – Intimation –Mandates only processing the return of income to vouch for the arithmetical error etc – Revenue cannot be allowed to go beyond – Claims not made in the return – Can proceed by filing revision application and not in appeal . [S. 37(1), 119, 264 , Form No .26AS ]
S. 143(1) : Assessment – Intimation –Disallowance provision in section 143(1)(a) (v) , introduced by the Finance Act , 2021 , w.e.f Ist April , 2021 , dealing with deductions claimed under Chapter VI-A applies prospective . [ S. 143(1)(a)(v) ]